W Ltd. issued 2,000, 14% Debentures of Rs.100 each at discount of 5% the

discount being adjustable on allotment. The debentures were payable as follows:

On Application

Rs.25

On Allotment

Rs.20

On First and Final Call

Rs.50

The debentures were fully subscribed and the moneys were duly received.

Show the cash book and journal entries and prepare the balance sheet of the company.